MONETT, Mo., July 24, 2012 /PRNewswire/ -- Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its Symitar® division today announced that $878 million Andrews Federal Credit Union has elected to install its Episys® core system in-house.
Maryland-based Andrews Federal Credit Union wanted an enterprise-wide technology platform that offered centralized data and more open functionality than available from its previous solution. It chose Symitar's Episys because of the organization's stability, ongoing product evolution, and strong integration history with third-party solutions. Episys will enable Andrews Federal Credit Union to create greater efficiencies by an estimated 20 percent through increased automation in the back and front office, including an automated contact center and account opening process.
Jim Hayes, executive vice president and chief financial officer at Andrews Federal Credit Union, commented, "Episys is a comprehensive, proven core platform that will improve the very fundamentals of our business. The added efficiencies will enable us to provide better member service and, at the end of the day, it is all about giving our members the products and services they need as well as the attention they deserve."
The credit union plans to use a series of videos to communicate with members what they will see from the new core solution, preparing them to easily adjust and take full advantage of the new services.
According to Ted Bilke, president of Symitar, "Episys provides a scalable platform that adjusts to maximize the operating flexibility and the long-term technology investment for Andrews Federal Credit Union and each of our clients. We expect the credit union to realize strong returns on its investment by fully leveraging the Episys system, and we look forward to contributing to its enhanced performance and member service."
In addition to Episys, Andrews Federal Credit Union will initially install an array of complementary Symitar solutions, including NetTeller Online Banking™, iTalk™ IVR, OurCashFlow™ online financial management, Synapsys® member relationship management, and ARCU data warehousing among others.
About Symitar
Symitar, a division of Jack Henry & Associates, Inc. (NASDAQ:JKHY), is the leading provider of integrated computer systems for credit unions of all sizes. Symitar currently serves more than 750 credit unions as a single source for integrated, enterprise-wide automation and as a single point of contact and support. Additional information is available at www.symitar.com.
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for financial services organizations. Its technology solutions serve more than 11,900 customers nationwide, and are marketed and supported through four primary brands. Jack Henry Banking™ supports banks ranging from de novo to mid-tier institutions with information processing solutions. Symitar is the leading provider of information processing solutions for credit unions of all sizes. ProfitStars® provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. iPay Technologies™ operates as a leading electronic bill pay provider supporting banks and credit unions with turnkey, highly configurable retail and small business electronic payment platforms. Additional information is available at www.jackhenry.com.
Statements made in this news release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in any forward-looking information. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. Additional information on these and other factors, which could affect the Company's financial results, are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and potential investors should review these statements. Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from any forward-looking information.
SOURCE Jack Henry & Associates
